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that's a big improvement over the $27 billion deficit a year earlier. but despite that turnaround, lawmakers still need to make major cutbacks in order to keep government debt in check. >> susie: the group of seven industrialized nations issued a statement today saying that any stimulus programs they undertake are aimed solely at spurring domestic demand and are not an effort to weaken their currencies, but this aggressive monetary policy, and what some call "turning on the printing presses," means currencies get weaker. and while that makes exports cheaper for overseas buyers, not everyone benefits. ruben ramirez reports. >> reporter: if there was any doubt how interconnected economies around the globe are, you need look no further than what's happening in the currency markets as governments try to spur growth. >> the difficulty of achieving that i think is why you are seeing the issue of currency wars coming up more and more. >> reporter: the g-7, which includes countries like the united states, the united kingdom and germany, issued a statement sayin
that's a big improvement over the $27 billion deficit a year earlier. but despite that turnaround, lawmakers still need to make major cutbacks in order to keep government debt in check. >> susie: the group of seven industrialized nations issued a statement today saying that any stimulus programs they undertake are aimed solely at spurring domestic demand and are not an effort to weaken their currencies, but this aggressive monetary policy, and what some call "turning on the printing...
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deficits. i think we know he's going say we're not going to increase deficits. this won't cost the american people a dime. how do you do big programs without costing anything? doing that either suggests you're going to make serious trade-offs cut somewhere else to spend here or do small symbolic stuff. >> woodruff: the white house is already putting out some advanced text saying that these are things... some of the things he wants to do are not going to cost the taxpayers anything. both of you have mentioned the inaugural address. we hear from the white house that the president is not just talking to the members of congress in the chamber. he's talking to millions of americans who have everything at stake. >> you could say to some degree the audience is the 48% who did not vote for him. in the sense that what he says to them. but really the true sense tonight is the people who are listening are those who support, admire and identify with the president. that's the case with every state of the un
deficits. i think we know he's going say we're not going to increase deficits. this won't cost the american people a dime. how do you do big programs without costing anything? doing that either suggests you're going to make serious trade-offs cut somewhere else to spend here or do small symbolic stuff. >> woodruff: the white house is already putting out some advanced text saying that these are things... some of the things he wants to do are not going to cost the taxpayers anything. both...
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nothing i'm proposing tonight should increase our deficit by a single dime. it's a smarter government we need that sets priorities and invests in broad based growth. interesting statement, krystal. >> absolutely. republicans try to caricature him as a big government liberal who's never seen a government program that he doesn't like, who's going to spind us into the ditch. he's going to turn us into greece. the facts and the record say things that are different. since january it's been quite a while. i think it was january 2008 we actually had a surplus. this january he has been slowing the growth of government spending. it has been a priority for him. but obviously because of the economic realities, we had to invest in the country in an immediate way to get us back on track. so making that case reminding voters that he has been a responsible hand on the tiller when it comes to balancing the budget and keeping those policies in mind is important too. >> richard, i want to bring this up because i want to bring this up. >> do it. >> when we've talked about the 1
nothing i'm proposing tonight should increase our deficit by a single dime. it's a smarter government we need that sets priorities and invests in broad based growth. interesting statement, krystal. >> absolutely. republicans try to caricature him as a big government liberal who's never seen a government program that he doesn't like, who's going to spind us into the ditch. he's going to turn us into greece. the facts and the record say things that are different. since january it's been...
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politicians officials estimate a total of six million iranian patients could be in danger because of the drug deficit in the vendor local and international media reported on the first death apparently caused by the shortage. a fifteen year old boy who suffers from him ophelia couldn't get the medicine he desperately needed despite a frantic search by his family and he died in hospital on. the west try to do now they tried sanctions on the military sector then they realized we actually started making progress there but they wanted to weaken destabilize the country and the government is their aim this is why they now target people so that people get angry and take to the streets protesting that. and people indeed take to the streets this is a meeting of organ donors and some whose lives have been saved by transplant a process now complicated by the like of medicine for that. i thank god and the donor who return me to life i had heart problems and now his heart beats in my chest and i am again why but the problem is that many too many are still awaiting surgery became extremely expensive and the number
politicians officials estimate a total of six million iranian patients could be in danger because of the drug deficit in the vendor local and international media reported on the first death apparently caused by the shortage. a fifteen year old boy who suffers from him ophelia couldn't get the medicine he desperately needed despite a frantic search by his family and he died in hospital on. the west try to do now they tried sanctions on the military sector then they realized we actually started...
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that results in a lower deficit as you have reported to us. by 2015, the deficit is projected to be $430 billion, the lowest you project over 10 years. that's slightly below the highest deficit president bush ever had in his eight years. and you have gpped growth projected at 3.%, last year was 2.2. but after 2015, three years from now, the deficits start a rise again, increasing every single year almost 10% a year and would more than double over the following eight years to $978 billion, is that correct? >> yes, that's right. >> and you don't see unless something changes, any improvement in the outyears but your report would indicate that your report the upward trajectory -- and is that an unsustainable path? >> as others have said, debt cannot rise indefinitely as a share of g.d.p. and our projections show debt rising relative to g.d.p. in the back half of this coming decade. >> so i think -- and it increases the risk as bowles and simple son told us was inevitable if we don't change this unsustainable path, would you agree? >> in the longer
that results in a lower deficit as you have reported to us. by 2015, the deficit is projected to be $430 billion, the lowest you project over 10 years. that's slightly below the highest deficit president bush ever had in his eight years. and you have gpped growth projected at 3.%, last year was 2.2. but after 2015, three years from now, the deficits start a rise again, increasing every single year almost 10% a year and would more than double over the following eight years to $978 billion, is...
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Feb 13, 2013
02/13
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what's happened to the deficit? the annual deficit? 2008 deficit was $458 billion. too much money, yes, but deficit in 2013, $1.3 # trillion. what's the problem? ladies and gentlemen, i suggest to you that we have a spending debt crisis, not a revenue debt crisis. you got to make the right diagnosis. to put it in a little greater context. we spend $3.6 trillion as a nation as a whole each year, $3.6 trillion, about $2.5 trillion of that is medicare, medicaid, social security, and interest on the debt, those four things. the entire federal government, the rest of the entire federal government, everything, everything, post office, roads, transportation, justice, education, energy, defense, everything else is about a trillion dollars. you all just heard what the deficit was last year, $1.3 trillion, meaning that you could do away with the entire federal government with the exception of medicare, medicaid, social security, and we wouldn't even balance the budget. that's the magnitude of the challenge that we have. it's incumbent upon us to come up with solutions, positi
what's happened to the deficit? the annual deficit? 2008 deficit was $458 billion. too much money, yes, but deficit in 2013, $1.3 # trillion. what's the problem? ladies and gentlemen, i suggest to you that we have a spending debt crisis, not a revenue debt crisis. you got to make the right diagnosis. to put it in a little greater context. we spend $3.6 trillion as a nation as a whole each year, $3.6 trillion, about $2.5 trillion of that is medicare, medicaid, social security, and interest on...
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of its military expansionism and secondly it's as though the whole nation is living with attention deficit disorder if they go back to nafta back in one nine hundred ninety four when it was first pushed through many people warned that this was going to happen it was that great sucking sound it wasn't only going to come from mexico it was going to come from around the world as u.s. manufacturing shipped as jobs overseas to cheap labor countries to bring the product back and sell it at a markup so it's very easy to see and the consequences were predictable so it's no secret that the u.s. a large chunk of the last budget goes toward military spending and a lot of people say that this is what's propping up the economy but you're saying this is doing the opposite. oh absolutely you know there's that there's that mentality that still exists you know america in the world you know the depression ended when world war two started and stupid people say things like we need a good war to get us out of this you know which of course is an oxymoron but the defense budget goes to a very small group of indi
of its military expansionism and secondly it's as though the whole nation is living with attention deficit disorder if they go back to nafta back in one nine hundred ninety four when it was first pushed through many people warned that this was going to happen it was that great sucking sound it wasn't only going to come from mexico it was going to come from around the world as u.s. manufacturing shipped as jobs overseas to cheap labor countries to bring the product back and sell it at a markup...
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. >> industrial demand in platinum and a supply deficit in platinum. >> all right. guy? >> funny you should bring up bacon, mel. >> why? >> i don't know if this is the top trade of the day necessarily, but you scoffed at me, at jack -- >> you always say i scoff, but i -- >> you do scoff, unrelated to this. >> jack in the box has been a monster. i understand valuation is a stretch. and i understand that people bet against the stock and lose. i think they will continue to do so into earnings, which i believe come out next week. >> why is that speaking of bacon. >> don't they make burgers and those things -- >> i don't know. it's your trade. >> qdoba, we're going there for valentine's day. >> that's your present to me? you just blew it. no surprise. karen? >> xlf. we own a number of, you know, jpmorgan, bank of america, citibank, but i like the xlf. i would still, if you want want to pick a particular name, i know it was up a fair amount recently, but i think we're not so far along in the story of recovering in financials. >> and beekers? >> well, my top trade is just the m
. >> industrial demand in platinum and a supply deficit in platinum. >> all right. guy? >> funny you should bring up bacon, mel. >> why? >> i don't know if this is the top trade of the day necessarily, but you scoffed at me, at jack -- >> you always say i scoff, but i -- >> you do scoff, unrelated to this. >> jack in the box has been a monster. i understand valuation is a stretch. and i understand that people bet against the stock and lose. i...
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. >> goals in manufacturing, energy, education, national security and the deficit. real achievable plans that will lead to new jobs. >> top republicans including senator mcconnell already critical of the speech. >> i strongly suspect the white house will subject us to yet another campaign blitz. frankly, i could write the scripts myself and will be told the president's hands are tied by the sequester he proposed, signed and refuses to get rid of. >> we learned the president will make a major announcement of afghanistan announcing that 34,000 u.s. troops will return home from the region exactly one year from today. that's about half the troops there now. joining us now, maryland congressman chris van hollen, ranking member of the house budget committee. thank you for joining us. >> great to be with you, tamron. >> first, what are the expectations for the president tonight? >> well, i think as you said the president's going to lay out his plan for xik growth, for job creation but focusing on the fact it is not good enough just to have economic growth for the folks alr
. >> goals in manufacturing, energy, education, national security and the deficit. real achievable plans that will lead to new jobs. >> top republicans including senator mcconnell already critical of the speech. >> i strongly suspect the white house will subject us to yet another campaign blitz. frankly, i could write the scripts myself and will be told the president's hands are tied by the sequester he proposed, signed and refuses to get rid of. >> we learned the...
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we have trillion dollar plus deficits and also have the fed buy our debt. that's a ponzi scheme. that cannot continue long-term. we have to reduce debt as a percentage of the economy and then stabilize it. >> again, i'm sure our viewers, listen, they get tired of talking about it because in some ways it's a little depressing to talk about this. some people pooh-pooh it. let's take the other side. debt hasn't doomed us now, why should it now. i'm trying very hard to take the other side. >> let's be clear. not all debt is bad. some is fine. too much debt is not. what you have to do whether you're a company, an individual or a country, you have to look at how much debt do you have as a percentage of your income and your ability to service and sustain that. most economists will tell you 60% of public debt to gdp is the right number. international monetary fund will, too. we're 75 now if you count public debt, we're 100% if you count social security and medicare obligations and we're adding debt at record rates. >> david, we're at more than 300% debt to gdp if you factor in public and
we have trillion dollar plus deficits and also have the fed buy our debt. that's a ponzi scheme. that cannot continue long-term. we have to reduce debt as a percentage of the economy and then stabilize it. >> again, i'm sure our viewers, listen, they get tired of talking about it because in some ways it's a little depressing to talk about this. some people pooh-pooh it. let's take the other side. debt hasn't doomed us now, why should it now. i'm trying very hard to take the other side....
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it will not add a dime to the deficit. >> and what about cutting the deficit? jean spurling told joe scarborough that the president knows that he has to propose something. he has to make some proposals on entitlements. is he going to be that specific tonight? >> well, he has a specific -- we have a proposal that is on the table from the fiscal talks that we had with congress that has spending cuts that does do some entitlement reforms as well as raising revenue by closing loopholes to the -- that's still very much on the table. the president thinks, well, we think creating jobs -- he definitely thinks he is committed to deficit reduction and thinks that this is a drag on the economy too. if we don't deal with it and he is very committed to wanting to do it. we need a partner as some people like to say in december, and so we need a congress that's willing to work with us, but we do think that while congress is working on the larger piece that they should turn off the sequester for a few months, whatever time is needed in order to work on this bigger project, and
it will not add a dime to the deficit. >> and what about cutting the deficit? jean spurling told joe scarborough that the president knows that he has to propose something. he has to make some proposals on entitlements. is he going to be that specific tonight? >> well, he has a specific -- we have a proposal that is on the table from the fiscal talks that we had with congress that has spending cuts that does do some entitlement reforms as well as raising revenue by closing loopholes...
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so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare, medicaid, social security and interest on the debt. those four things. the entire federal government, the rest of the entire federal government, everything, everything, post office, roads, transportation, justice, education, energy, defense, everything else is about $1 trillion. you all just heard what the deficit was last year. $1.3 trillion. which means we can do away with the entire federal government with the exception of medicare, medicaid and social security and we wouldn't even balance the budget. that's the magnitude of the challenge that we have. so it's incumbent upon
so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare,...
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the deficit isn't as bad as we thought it would be for the fiscal year. it will take the spending cutting resolve off the table. we've already gotten indications of this from the white house showing that they feel they have met most of their debt commitments with this 4 trillion in cuts that they need supposedly. they have 1 1/2 trillion from that game done. i like someone has to lose 100 pounds, loses 10 pounds, i can stop now. for apparently people that are overweight this is an issue. i found it remarkable and find it remarkable all the more that this whole country has to go on a fiscal diet and where whooping up some progress in the first week, if you will. and i think celebrating a balancing we've won and we're done, as i think might be the reaction from this report, it us going to be a mistake because last time i checked, we still have 63 trillion dollars in debt. under the best scenarios this 4 trillion is over 10 years. we'll still have ex-soes of 20 trillion in debt when all said and done. it is getting bigger. because we're not as big as we thou
the deficit isn't as bad as we thought it would be for the fiscal year. it will take the spending cutting resolve off the table. we've already gotten indications of this from the white house showing that they feel they have met most of their debt commitments with this 4 trillion in cuts that they need supposedly. they have 1 1/2 trillion from that game done. i like someone has to lose 100 pounds, loses 10 pounds, i can stop now. for apparently people that are overweight this is an issue. i...
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and investing in our people. >> now, you hear that brief mention of the deficit there so they say inside the white house the president does want to bring spending down, but when he mentions the word investment, republicans like speaker boehner, as you noted think it's more about government. he said i don't think he has the guts to do it. he doesn't have the courage to take on the liberal side of his own party, never has. so interesting on a night when we might see both sides come together at least a little bit and talk about what they may get done in this new congress that's meeting now. instead, you have a president who is planning to give perhaps a more partisan speech and a republican speaker laying down the gauntlet before this speech and saying he doesn't think the president has the guts to cut spending and really tackle the deficit. >> alisyn: that does not sound like a harbinger of coming together of both sides. >> they'll be up there tonight together. so that could make for an interesting little moment. >> alisyn: all right, we will be on the lookout for all of those moments, ed
and investing in our people. >> now, you hear that brief mention of the deficit there so they say inside the white house the president does want to bring spending down, but when he mentions the word investment, republicans like speaker boehner, as you noted think it's more about government. he said i don't think he has the guts to do it. he doesn't have the courage to take on the liberal side of his own party, never has. so interesting on a night when we might see both sides come together...
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address in tonight's state of the union address. 5% said health care, 3% say immigration reform, 35% say deficit reduction. but the majority, 51%, economy and jobs. >> think he will. about 60 million people will read -- read -- the "sports illustrated" swimsuit issue. same way they really like the interviews in "playboy." jokes, drools aside, 60 million people will flip through the magazine. yet again, it has made a superstar out of a cover model. brian shactman back at headquarters with that model. brian. brian. >> hi, guys, ready for the interview right now? >> if you like. >> here we go. >> he's distracted. >> we're having a conversation here. i'm here with kate upton, the cover of the si swimsuit edition. that was a bit of a surprise. obviously welcome to cnbc. >> thank you. >> the second year in a row, tyra banks, el mcpherson, legends in the business, what does that mean for you? >> it means so much. i was so excited to go to antartica because no other fashion magazine has ever been there. so i was making history. but now i'm a part of history by being with people like that in double cover
address in tonight's state of the union address. 5% said health care, 3% say immigration reform, 35% say deficit reduction. but the majority, 51%, economy and jobs. >> think he will. about 60 million people will read -- read -- the "sports illustrated" swimsuit issue. same way they really like the interviews in "playboy." jokes, drools aside, 60 million people will flip through the magazine. yet again, it has made a superstar out of a cover model. brian shactman back...
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that's one of the main reasons india's fiscal deficit ballooned last year. it put the rupee under pressure, slowed growth and left a finance minister concerned. >> i may add that we may be left with no choice but to make it a little more expensive to import gold. >> reporter: he then raised the import tax on gold for the third time in a year. this time, hiking it from 4% to 6%. industry insiders say that's likely to cause an increase in illegal smuggling into india, but they also don't think legal imports will come down. and even if gold ends up being more expensive, they say consumers will still want it. >> gold is the commodity which has paid you ten times in properties also the recession is there, stocks also, the index, you can see from last couple of years. nobody's got much return on the investment besides gold. >> reporter: it's been good for the retailer. but according to this economist, money spent on gold is a drag on the economy. according to estimates, indians put away about 20,000 tons of gold and jewelry, coins, and bars. >> because the savings
that's one of the main reasons india's fiscal deficit ballooned last year. it put the rupee under pressure, slowed growth and left a finance minister concerned. >> i may add that we may be left with no choice but to make it a little more expensive to import gold. >> reporter: he then raised the import tax on gold for the third time in a year. this time, hiking it from 4% to 6%. industry insiders say that's likely to cause an increase in illegal smuggling into india, but they also...
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politicians officials estimate a total of six million iranian patients could be in danger because of the drug deficit in the local and international media reported on the first death apparently caused by the shortage a fifteen year old boy who suffers from him ophelia couldn't get the medicine he desperately needed despite a frantic search by his family and he died in hospital on. the west apply a new strategy now they tried sanctions on the military sector but they realized we actually started making progress there but they wanted to weaken destabilize the country and the government is their aim this is why they now target people so that people get angry and take to the streets protesting i think. and people indeed take to the streets this is a meeting of organ donors and some whose lives have been saved by transplant is a process now complicated by the like of medicine for that. i thank god and the donor who return me to life i had heart problems and now his heart beats in my chest and i am again why but the problem is that many too many are still waiting surgery became extremely expensive and the
politicians officials estimate a total of six million iranian patients could be in danger because of the drug deficit in the local and international media reported on the first death apparently caused by the shortage a fifteen year old boy who suffers from him ophelia couldn't get the medicine he desperately needed despite a frantic search by his family and he died in hospital on. the west apply a new strategy now they tried sanctions on the military sector but they realized we actually started...
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the end of his first term, and we've seen record deficits, record spending, trillion dollar plus deficits for as long as president obama's been in office. >> reporter: a look at our or latest fox news poll from last week, we asked among other things what's your number one priority, the thing you're sort of most passionate about. dealing with government spending was number one, and yet we're hearing from the president's aides he'll be talking more tonight about investments in education, other programs. investments another word for spending, arthel. arthel: and we'll see how that goes over. ed henry, thank you very much. jon: marco rubio will give the republican response to the state of the union address. tonight will be senator rubio's chance to really shine. chief national corps 1307b9 jim angle is live in washington. the big question, jim, why senator rubio? [laughter] >> reporter: well, the answer to that question is pretty easy. there is no question that senate rubio -- who was only elected in 2010 -- is already a star in the republican party, and that's why he'll give the official res
the end of his first term, and we've seen record deficits, record spending, trillion dollar plus deficits for as long as president obama's been in office. >> reporter: a look at our or latest fox news poll from last week, we asked among other things what's your number one priority, the thing you're sort of most passionate about. dealing with government spending was number one, and yet we're hearing from the president's aides he'll be talking more tonight about investments in education,...
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in the way of significantly higher interest rates if people believe we don't really care about our deficits and the debt. neil: on a republican and democratic side, it is -- hit this appeared. if you say and long enough, it is not a problem. when you are adding $4 billion a day to the debt it is a problem. later today we will get the treasury releasing a statement about january revenue data into the government and a lot more courtesy of tax hikes, courtesy of the improving market and people will see is on that and don't have to do anything because is fine but as someone who has to lose 100 lbs. losing 10 pounds and say i can stop. [talking over each other] dagen: relief that people don't feel -- [talking over each other] dagen: pouring into all these nations overseas. neil: easy for you and difficult for me but i do think that is my biggest worry on the right and left that they have lost the zeal to do something and i do think regardless who you voted for it is fair to say one of the consequences of this election was tight in taxes on the well to do, that was the beginning but giving up the
in the way of significantly higher interest rates if people believe we don't really care about our deficits and the debt. neil: on a republican and democratic side, it is -- hit this appeared. if you say and long enough, it is not a problem. when you are adding $4 billion a day to the debt it is a problem. later today we will get the treasury releasing a statement about january revenue data into the government and a lot more courtesy of tax hikes, courtesy of the improving market and people...
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energy, education, national security and the deficit, real achievable plans that will lead to new jobs. >> reporter: tonight's new state of the union come just two weeks before budget showdowns. on march 1st, a series of draconian spending cuts both sides want to avoid but will kick in if nothing is done. then on march 30th the government completely runs out of funding. the arguments from both sides remain largely the same from previous budget impasses, the president pushing for tax hikes on the wealthy. republicans insisting on major spending cuts. >> the president will actually have to move beyond the gimmicks and the taxes and propose real spending reductions. >> reporter: despite the economic focus, the issue of guns, especially the memory of newtown, will loom over the house chamber. with lawmakers inviting guests from both sides of the gun debate, from former rock star ted nugent on one side including former congresswoman gabby giffords who also stars in this ad. >> take it from me, congress must act. let's get this done. >> reporter: tonight there will be a lot of acting cabinet
energy, education, national security and the deficit, real achievable plans that will lead to new jobs. >> reporter: tonight's new state of the union come just two weeks before budget showdowns. on march 1st, a series of draconian spending cuts both sides want to avoid but will kick in if nothing is done. then on march 30th the government completely runs out of funding. the arguments from both sides remain largely the same from previous budget impasses, the president pushing for tax hikes...
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. >> he says this is a big chance for the president to sell his balanced deficit reduction. the goal is to basically move public opinion forward so that moves congress. do you think the president will be able to accomplish that? >> reporter: that's the $64,000 question about this, isn't it? it's a great opportunity to get out there and take your message to the american people and go over the heads of congress and try to argue for what you believe in. on the other hand, we've seen at various times in modern history, whether it was ronald reagan or bill clinton or more, you can have a great soaring speech but it doesn't always translate into activity. i always remember ronald reagan dropping the big, thick bill that was passed at the last minute to keep the government running. and he said never more would he sign one of these to keep the government running. and about eight months later, he did the same. so sometimes yes, you get a major push out of these speeches. sometimes they are quickly forgotten. >> we'll find out tonight at 6:00 california time. thank you, jamie. you can
. >> he says this is a big chance for the president to sell his balanced deficit reduction. the goal is to basically move public opinion forward so that moves congress. do you think the president will be able to accomplish that? >> reporter: that's the $64,000 question about this, isn't it? it's a great opportunity to get out there and take your message to the american people and go over the heads of congress and try to argue for what you believe in. on the other hand, we've seen at...
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"the new york times" says the rising cost of health care is slowing and that helping it ease the deficit. the congressional budget office now estimates hundreds of billions of dollars have been cut from the cost of medicare and medicaid. overall, health care spending is at its lowest rate in decades. >>> the "washington post" looks at state of the union squatters. they are the lawmakers who wait hours to stake out one of the coveted aisle seats in the house chamber. being in that spot can mean some high-profile television face time when greeting the president. >>> the "wall street journal" says gum chewing is falling out of favor. gum makers are looking to win customers back. they're shrinking gum packages to fit in the pockets of jeans and are trying new flavors like orange cream pop and wild berry remix which i think might be part of the problem. i like just the traditional flavors. >>> "the financial times" says that spain's parliament is expected to declare bullfighting a protected national cultural pastime. the move today is expected to raise tensions in spanish regions where the sp
"the new york times" says the rising cost of health care is slowing and that helping it ease the deficit. the congressional budget office now estimates hundreds of billions of dollars have been cut from the cost of medicare and medicaid. overall, health care spending is at its lowest rate in decades. >>> the "washington post" looks at state of the union squatters. they are the lawmakers who wait hours to stake out one of the coveted aisle seats in the house chamber....
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properly, part of that vision will include the need to solve our deficit challenge and address the looming sequester. that dangerous set of automatic indiscriminant spending cuts that are due to take effect in just under three weeks. but instead of working with democrats to avert the sequester through a big and balanced solution or frankly even a short-term balanced proposal, a growing number of house republicans are instead engaged in a dangerous blame game. majority leader cantor joined in that this weekend claiming that the president is the one who proposed the sequester in the first place. what he didn't say was, of course, the republicans offered a piece of legislation called cut, cap and balance. the sequester was an integral part of their policy proposal. in fact, the sequester was part of a bipartisan agreement instigated by republicans, which we supported. let us not forget, mr. speaker, that it was republican hostage taking, the debt limit, in the 2011 that brought about the budget control act which created the sequester. speaker boehner himself after the deal creating the squers
properly, part of that vision will include the need to solve our deficit challenge and address the looming sequester. that dangerous set of automatic indiscriminant spending cuts that are due to take effect in just under three weeks. but instead of working with democrats to avert the sequester through a big and balanced solution or frankly even a short-term balanced proposal, a growing number of house republicans are instead engaged in a dangerous blame game. majority leader cantor joined in...
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i think i'd like to hear jobs, jobs jobs, jobs, not one word about the deficit. that would make my heart go pity pat. not only would that make everybody's head on television explode, it would make me very happy. stephanie: we are told it will be used on using to protect jobs, bring down the deficit -- >> whoa, wait. stephanie: he will once again say this is what the american people voled for right? >> what i'm fairly impressed by is he's getting back on an airplane as soon as this is over and going to try to sell this down in north carolina. people are yelling he is still in the campaign, right he still has people backing him. stephanie: you can't reasonably watch any of those republicans eric cantor was on meet the press. no matter how you spin it, it's like no, you were on the wrong side of the polling of everything the penalty wants to get done. he ran on those issues, won on those issues. it's just -- i don't did eric cantor say anything that made sense to you sunday? >> no, this is what he did. first of all if you're giving a really big speech about how the
i think i'd like to hear jobs, jobs jobs, jobs, not one word about the deficit. that would make my heart go pity pat. not only would that make everybody's head on television explode, it would make me very happy. stephanie: we are told it will be used on using to protect jobs, bring down the deficit -- >> whoa, wait. stephanie: he will once again say this is what the american people voled for right? >> what i'm fairly impressed by is he's getting back on an airplane as soon as this...
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even if this year's deficit, for example, comes in better than expected, the congressional budget office is going to seize on that later this afternoon, it does not necessarily mean that we're going to be shrinking our red ink. whatever we pile in excess spending is going to be piled onto our debt and it will go on and on and on. the concern is tonight the president is not going to talk about a sort of a broad, you know, bold-face attempt to get this under control. that could raise some hack h he hackles and on wall street serious concern. martha: i talked to senator mccarthy before and it seems like the p debate over, as you say. that he believes spending is going to be the way to improve the economy. he says there are signs in the housing market and other places that things are picking up, and it does feel like they are putting that debt issue to rest, at least for the moment, and that they don't think that they have to answer to republicans at all on that, neal. >> reporter: they are much convince towed that. they are looking at the housing you eluded to, they are looking at the impro
even if this year's deficit, for example, comes in better than expected, the congressional budget office is going to seize on that later this afternoon, it does not necessarily mean that we're going to be shrinking our red ink. whatever we pile in excess spending is going to be piled onto our debt and it will go on and on and on. the concern is tonight the president is not going to talk about a sort of a broad, you know, bold-face attempt to get this under control. that could raise some hack h...
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are starting to react after the president speaks and it is the president's plan to speak about the deficit. >>> a man is in the hospital after being shot several times by richmond police. it happened 5:00 yesterday afternoon. neighbors called police saying an armed man was walking in the streets. when police arrived they confronted an armed man behind an apartment building and they shot him. the officers have been placed on administrative leave and that's department policy. >>> they are providing expanded benefits which are available as early as august 31st. they will help with support programs on military bases and the ability to fly on defense department aircraft. >>> starting today, chipolta is starting a new recipe. they are trying out a new vegan burrito and for now the toe few will come -- tofu will come from the soybeanry. they will cut the costs as costs of beef continues to rise. >>> quarterback joe montana will be the guest of honor on powell street between 4:00 and 6:00 p.m. the first 150 people in line will get a chance to win an autographed football or even try to cut a path.
are starting to react after the president speaks and it is the president's plan to speak about the deficit. >>> a man is in the hospital after being shot several times by richmond police. it happened 5:00 yesterday afternoon. neighbors called police saying an armed man was walking in the streets. when police arrived they confronted an armed man behind an apartment building and they shot him. the officers have been placed on administrative leave and that's department policy....
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this president needs to engage on our debt deficit. that's critical. second, i hope it won't be that partisan. hope it will be bipartisan. realizing america has a budget problem and americans have tightened their belts and it's time we did in washington. >> i'm not as optimistic as you are. after four years, i can pretty much tell you all the issues out there and a lot of good ideas. you brought up jobs. really, isn't there a philosophical difference here. that the spending money government orchestrated version of trying to create jobs versus the type of job creation you as an acknowledged conservative believe in. thoughts? >>> ran a business for 33 years. job creation needs to be done in private sector, not in government. we heard rumors the president will talk about more government stimulus and more government jobs. that's not the solution. that perpetuates the problem. we need to get center rtainty i regulation and move this country forward. >> when it comes to regulation, you were one of several authors who wrote the original no child left behind.
this president needs to engage on our debt deficit. that's critical. second, i hope it won't be that partisan. hope it will be bipartisan. realizing america has a budget problem and americans have tightened their belts and it's time we did in washington. >> i'm not as optimistic as you are. after four years, i can pretty much tell you all the issues out there and a lot of good ideas. you brought up jobs. really, isn't there a philosophical difference here. that the spending money...
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deficit reduction. what is the plan for-to-save social security and medicare for future generations. >> we can keep talking with the sxhour five hour and 15 minutes we have left on the program. thank you. >>> when does a shot that falls six feet short of the hoop count? may be the best shot we've every seen, that straight ahead. why not make the day unforgettable? with two times the points on travel, from taxis to trains. you'll be asking why not, a lot. chase sapphire preferred. there's more to enjoy. new griddle-melts to yourime usual breakfast sandwich. a lot more flavor. [ anouncer ] ihop's new griddle melts... made fresh and hot! hand crafted just for you. it's like a sexy sandwich. [ anouncer ] compare new griddle melts yourself. just $4.99. it's an epic breakfast sandwich. >>> welcome back, everybody. a high school basketball player could be changing the game when it comes to buzzer beaters, she sank what could be the best shot ever. jared greenberg joins us with today's bleacher report. >> take
deficit reduction. what is the plan for-to-save social security and medicare for future generations. >> we can keep talking with the sxhour five hour and 15 minutes we have left on the program. thank you. >>> when does a shot that falls six feet short of the hoop count? may be the best shot we've every seen, that straight ahead. why not make the day unforgettable? with two times the points on travel, from taxis to trains. you'll be asking why not, a lot. chase sapphire preferred....
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this is basically for deficit reduction. the first amount is $85 billion that will go into effect march 1 and everybody has a said the cuts will not be good for the economy. everybody is trying to figure out a way around the but they disagree how to do that. host: "politico" says -- jonathan strong, will the president used the word 'sequester?' guest: according to the preview i saw last week, i don't know if he will use the word sequestration. many of the house republicans who are really anxious to cut federal spending are surprisingly willing to let these cuts happen. one reason is the very first span in battle after republicans took control in april, 2010, they secured about $30 billion in cuts. "the washington post"looked at those cuts in most of them were fake. the sense is that happens every 10 years, they spent $6 billion in 2010 and they will not spend money until 2020 but they counted the $6 billion in 2011 as a spending cut. you add up the totals of those fake cuts and this is why these republicans want these dracon
this is basically for deficit reduction. the first amount is $85 billion that will go into effect march 1 and everybody has a said the cuts will not be good for the economy. everybody is trying to figure out a way around the but they disagree how to do that. host: "politico" says -- jonathan strong, will the president used the word 'sequester?' guest: according to the preview i saw last week, i don't know if he will use the word sequestration. many of the house republicans who are...
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reducing the deficit is important to all americans. how specifically will he get tonight to talk to what cuts need to be made? >> i think he will make at least three points. we have as ugly as it has been, we have cut the deficit and the majority of that has been through spending cuts. there have been rev you ins on the top 1%. he will make clear we need to go further to get the deficit reduction that we need to do and he will make a call for bipartisanship and compromise. he will be clear we need to do smart entitlement reform and having sensible savings. he will stress it has to be done in a balanced way that means you could raise some revenues through closing loopholes as part of tax reform and try to suggest that this type of bipartisan compromise where you focus on both spending cuts and revenues together. if we follow that path we can avoid the harsh impacts on the economy and shut down and threats of default that we think will only happen if people take an ideological position and say we can't have a single penny and all deficit
reducing the deficit is important to all americans. how specifically will he get tonight to talk to what cuts need to be made? >> i think he will make at least three points. we have as ugly as it has been, we have cut the deficit and the majority of that has been through spending cuts. there have been rev you ins on the top 1%. he will make clear we need to go further to get the deficit reduction that we need to do and he will make a call for bipartisanship and compromise. he will be...
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bithe end of his first term and we've seen record deficits, record spending, trillion dollars-plus deficits for as long as president obama has been in office. >> and the senate republican leader, mitch mcconnell, says the president's gotten all the tax increases that he's going to get. back to you all in new york. >> gretchen: molly henneberg live at the white house today. thanks. >> brian: should be interesting to see if ted nugent will be there. he's got an invitation from a congressman and perhaps an illegal immigrant being tossed out. so that's going to be an interesting dynamic. >> steve: lot going on. in other headlines this morning, one day after the state of the union address, president obama once again planning to bypass congress of the he's set to issue an executive order tomorrow on what companies must do to protect computers from cyber attacks. good. he failed to get the cyber intelligence sharing and protection act passed by congress. the reason? republican party is concerned that the bill would expand the government's regulatory power and increase costs for businesses. both im
bithe end of his first term and we've seen record deficits, record spending, trillion dollars-plus deficits for as long as president obama has been in office. >> and the senate republican leader, mitch mcconnell, says the president's gotten all the tax increases that he's going to get. back to you all in new york. >> gretchen: molly henneberg live at the white house today. thanks. >> brian: should be interesting to see if ted nugent will be there. he's got an invitation from a...